Nordea Investment Management AB Buys 15,648 Shares of Molson Coors Beverage (NYSE:TAP)

Nordea Investment Management AB lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 153.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,830 shares of the company’s stock after purchasing an additional 15,648 shares during the quarter. Nordea Investment Management AB’s holdings in Molson Coors Beverage were worth $1,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage during the 4th quarter worth about $29,000. Montag A & Associates Inc. acquired a new stake in shares of Molson Coors Beverage in the 4th quarter worth about $31,000. Raleigh Capital Management Inc. raised its holdings in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 46.6% in the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after acquiring an additional 186 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage in the 4th quarter worth about $36,000. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating for the company in a research note on Wednesday. Evercore ISI decreased their price objective on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group decreased their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.13.

Molson Coors Beverage Stock Up 1.5 %

TAP opened at $51.17 on Friday. The company has a 50 day moving average of $53.10 and a 200 day moving average of $59.93. The company has a market cap of $10.84 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $70.90. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, sell-side analysts expect that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, June 7th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.